Sun Life Deal Is Key to Building
Firm's Presence in U.S. -- a Must

TORONTO -- After years of stable but sleepy management, Sun Life Financial Services of Canada Inc. is starting to make a splash.

The company confirmed that it had agreed to acquire for $1.7 billion Boston-based Liberty Financial Cos.' Keyport Life Insurance Co., a provider of annuities, and its distribution arm Independent Financial Marketing Group. Sun Life said it would finance the deal using existing cash of 1.5 billion Canadian...